How the Medicare Part D Coverage Gap Will Affect You in 2017

The cost of prescription drugs will begin to drop for beneficiaries.

(Image credit: Andy Dean Photography)

Does the Medicare Part D doughnut hole continue to close next year? What is the threshold for 2017?

Yes. The gap in coverage--known as the doughnut hole--that Medicare beneficiaries reach after incurring a specified total cost for prescription drugs in a given year will continue to shrink gradually each year until it levels off in 2020.

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.